The Investec Group CEO Fani Titi’s salary decreased by 30.2% for the 2024 financial year, receiving a single-figure remuneration package of £5.24 million (R120 million).

Last month, the group released its financial results for the year ended 31 March 2024. The group achieved a robust financial performance despite the challenging economic environment.

Overall, the group’s revenue increased by 20.9% in rand terms from £1.99 billion (R40 billion at current exchange rates) to £2.09 billion (R49 billion).

With headline earnings per share increasing by 22.7% in rand terms to 72.9 pence (R17.16), the group upped its total dividend by roughly 28.07% to 34.5 pence (R8.12) per share.

Dividends per share increased 28.07% from 31 pence (R6.34) in 2023 to 34.5 pence (R8.12) in 2024.

“Revenue momentum is expected to continue, underpinned by book growth, stronger client activity levels and success in our client acquisition strategies, partly offset by expected cuts in interest rates,” said the group.

“The Group remains well positioned to continue to support its clients amidst the uncertain macro-economic outlook. We have strong capital and liquidity levels to navigate the current environment and pursue our identified growth initiatives in our chosen markets,” it added.

Source: TRADE FINANCE